Section 702. Publication of list of abandoned property

  1. Within thirty
  days after making  a  report  of  abandoned  property  pursuant  to  the
  provisions of section seven hundred one, such life insurance corporation
  shall  cause  to  be  published a notice entitled:   "NOTICE OF NAMES OF
  PERSONS APPEARING AS OWNERS OF CERTAIN UNCLAIMED PROPERTY HELD BY  (name
  of life insurance corporation)."
    2.  Such  notice  shall  be  published  once in at least one newspaper
  published in the county of the state in which is located the  last-known
  address of the holder of a policy under which such abandoned property is
  payable.   If there are no newspapers published in such county then such
  notice shall be published  in  a  newspaper  published  in  an  adjacent
  county.  Such publication shall be in a newspaper printed in the English
  language and any other newspaper that will substantially serve to inform
  the  public of said abandoned property. The comptroller shall promulgate
  rules to determine when it is appropriate  to  designate  an  additional
  publication.
    3. Such notice shall, in accordance with the classification prescribed
  by  the  state  comptroller for the report pursuant to the provisions of
  section seven hundred one, set forth:
    (a) the names and last known addresses which were in such  report,  of
  all  persons  appearing  to  be  entitled to any such abandoned property
  amounting to fifty dollars or more; provided,  however,  that  with  the
  consent of the state comptroller, the name and last known address of any
  person  may be omitted from such notice where special circumstances make
  it desirable that such information be  withheld.  Such  names  shall  be
  listed in alphabetical order;
    (b) such other information as the state comptroller may require; and
    (c) a statement
    (i)  that  a  report of unclaimed amounts of money held or owing by it
  has been made to the comptroller of the state of New  York  and  that  a
  list of the names contained in such notice is on file and open to public
  inspection  at  the  principal  office or place of business of such life
  insurance corporation in any city, village  or  county  where  any  such
  abandoned property is payable;
    (ii)  that  such  unclaimed moneys will be paid by it on or before the
  succeeding thirty-first day of August to  persons  establishing  to  its
  satisfaction their right to receive the same; and
    (iii)  that in the succeeding month of September, and on or before the
  tenth day thereof, such unclaimed moneys still remaining will be paid to
  the comptroller of the state of New York and  that  it  shall  thereupon
  cease to be liable therefor.
    4.   Such  life  insurance  corporation  shall  file  with  the  state
  comptroller on or before the tenth day of May  in  each  year  proof  by
  affidavit of such publication.